China’s solar power firms surge on policy support optimism

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China’s solar power firms surge on policy support optimism

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Solar panel components maker Longi Green Energy Technology, solar cell maker Tongwei and Sungrow Power Supply all soar by their 10 per cent daily limits

*Shares in China’s solar power firms surge, aided by media reports that Beijing will continue its policy support for the sector

*Solar panel components maker Longi Green Energy Technology, solar cell maker Tongwei and Sungrow Power Supply all soar by their 10 per cent daily limits

*The National Energy Administration, in a solar power development meeting, stresses that solar power remains the clean energy that China will give key support to, the official Shanghai Securities Journal reports

*In the future, China will give more support to solar power and the government will continue to subsidise the sector till end of 2022, the report says, adding that in 2019 the rollout of policies for the sector will be accelerated

*Solar power firms are also bolstered by Beijing’s pledge to support struggling private firms